Live Nation, Ticketmaster Merger Approved

Live Nation, Ticketmaster Merger Approved

Live Nation, Ticketmaster Merger Approved
The U.S. Department of Justice has announced its approval of the Live Nation and Ticketmaster merger. The decision will combine the ticketing and concert promotion companies under the name Live Nation Entertainment, and will require Ticketmaster to divest its Paciolan Inc. ticketing operation and license a copy of its ticketing software to Anschutz Entertainment Group. Philadelphia-based sports and entertainment company, Comcast-Spectacor has signed a letter of intent to purchase assets to Paciolan. (1/26)

Apple Reports Profitable First Quarter
Apple reported a revenue of $15.68 billion and a profit of $3.38 billion for its first quarter ending Dec. 26, up from revenue of $11.88 billion and a profit of $2.26 billion in the year-ago quarter. During the quarter, Apple sold 21 million iPods, an 8 percent decline from the year-ago quarter, and 8.7 million iPhones, up 100 percent from the year-ago quarter. Apple's iTunes has also signed a performing rights licensing deal with the UK collecting society PRS for Music that will give the music service pan-European access to the repertoire of all PRS members and a mechanical and performing rights license for content from independent publishers including Peer Music and Chrysalis Music, effective immediately. (1/26)
 

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